Quebec saw 180 insolvencies, including bankruptcies and consumer proposals in May, down from 202 in April; Ontario’s figure dropped from 98 to 92; Saskatchewan from 11 to 10; PEI from 4 to 2; and Nunavut from 1 to zero.
There were increases though in 5 provinces, led by BC which saw an increase from 12 in April to 18 in May. Alberta increased to 10 from 6 in April; Newfoundland & Labrador doubled to 4; New Brunswick increased from 5 to 7; and Manitoba increased from 6 to 7.
There were no changes in Nova Scotia (8), Northwest Territories (0) and Yukon (0).
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The number of individuals declared insolvent nationally declined in May but the rosier picture was largely driven by an 11 per cent drop in one province.